Speedy Printers has the following data for its Sales and Expenses: Sales: January $50,000, February...
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Accounting
Speedy Printers has the following data for its Sales and Expenses: Sales: January $50,000, February $30,000, March $30,000, April $40,000 Terms given to customers are: 1/10 net 30. 20% will pay in the month of sale and take the discount, 70% will pay in the month following and do not get the discount, 10% will pay in the second month following and do not get the discount.
Purchases cost 60% of Sales and are paid in the next month following purchase. Other cash expenses are: Salary $2,000 and Rent $4,000 each month Determine the Net Cash Gain or Loss for the month of March only. Enter only numbers and decimal (do not use a $ sign or comma):
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